Philip Morris News

Alliance Law Advised Philip Morris International on Eastern Tobacco Acquisition

Alliance Law successfully acted as the Egyptian legal counsel of Philip Morris International (PMI), in relation to the acquisition of a minority indirect stake (14.7%) in Eastern Tobacco Company (Eastern), Egypt’s largest cigarette manufacturer.

As part of this acquisition, PMI and Eastern seek to explore, on a non-exclusive basis, potential strategic areas for mutual long-term collaboration, in the fields of technology, manufacturing, and innovation, including heated tobacco products, paving the way to a path towards a smoke free future in Egypt.

Our firm has been involved in all aspects of the transaction, particularly the negotiation, definitive agreements, conducting the competition and capital market assessments, and assisting on all other legal matters until the final closing.

The Alliance Law team of lawyers advising on this transaction was led by Dr. Ashraf Abou Elkheir, Managing Partner. “I’m very grateful for all the effort exerted by our Capital Market, Competition, and M&A teams on this transaction, in addition to the assistance of our colleagues from the IP, Dispute Resolution, and Litigation teams,” said Dr. Abou Elkheir.

Our teams were led by Omar Farid, Partner and Head of Capital Market; Dr. Fatma El-Zahraa Adel Adel, Counsel and Head of Competition and Distribution; and Haggar Mohamed, Senior Associate – M&A. They were supported by Dr. Abdallah Nour El Dien, Senior Associate – IP; Ahmed Rady, Senior Associate; Ahmad Hammam, Associate; Hala Nazmy, Associate; Nada Nabih, Associate; Mohamed Khaled, Associate; and Nada Elmolla, Junior Associate.

For more information, please check:

Philip Morris International to Acquire Stake in Eastern Company S.A.E | Cleary Gottlieb

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